Sberbank predicted the status of the most expensive companies in Russia

Photo: Nikita Popov/RBC

Sberbank may become the most valuable company on the Russian market, overtaking the capitalization of “Rosneft”, according to the Bank UBS. After reporting under IFRS, the investment Bank upgraded its forecast for the shares of the largest Russian Bank, raised their price to 185 rubles.

The growth of financial indicators of the savings Bank affected the value of its shares on Friday, August 26, his paper continued to rise amid favorable forecasts of analysts. With the opening of a major Russian Bank have risen in price for 1,69%, at the peak, they were trading above 145 RUB. as a result, the capitalization of the country’s largest Bank exceeded of 3.28 trillion rubles (including preferred shares), ahead of this indicator of “Gazprom” costs on the stock exchange by 18:50 Moscow time amounted to 3.22 trillion rubles.

Capitalization of the savings Bank while is second only to Rosneft, the cost of which on Friday reached 3.6 trillion rubles, however, if the analysts, the Bank could overtake oil giant and the world’s most valuable public company in the country. If these forecasts come true, the capitalization of the Bank will rise to 3.99 trillion (excluding preference shares).

Under forecasts UBS, the value of Sberbank shares in the future 12 months could rise to 185 rubles. About it told RBC UBS analyst Michael helm. He said that analysts ‘ expectations influenced the results of the work of the savings Bank in April-June. By results of 2 quarter of 2016, the Bank earned of 145, 4 billion rubles of net profit under IFRS increased compared to the same period last year, the financial result 2.6 times.

UBS also raised its forecast for net profit of Sberbank under IFRS: in 2016, analysts expect the doubling of its net profit to 514 billion rubles (in 2015, the Bank earned 222,9 RUB billion), in 2017 — to 595 billion rubles, and in 2018 — to 717 billion rubles.

“The expectation of growth in the value of Sberbank shares is based not only on projections of the increase in its net profit, but lower interest rates, which affect interest income”, — said the Helmets. UBS predicts the reduction of the key rate of the Central Bank by mid-2017 to 8.5% per annum.

Citibank expect growth of the share prices of Sberbank RUB up to 156 up to the end of 2016, In this case, its capitalization will grow only to 3.36 trillion rubles (without taking into account the “preferred shares”).

“Sberbank is the most effective of the major Russian financial companies. The growth of quotations of the savings Bank more than a year ahead of the growth of the MICEX index”, — says Director of the analytical Department of “Alpari” Alexander Razuvaev. He believes that in the next 1.5 years, Sberbank will be able to bypass the “Rosneft” capitalization and become the most expensive company of Russia.

“While quotations of “Rosneft” keep talking about privatization. But there is an old stock rule ” buy on expectations, sell on the event. We should not forget that the tax treatment of Rosneft is a lot tighter than Sberbank,” — recalls the expert.

Analyst IK “Veles the capital” Vasily Tanurkov indicates that the performance of “Rosneft” will largely depend on world oil prices, then from tax innovations, which will decide to enter the government for the companies-exporters.

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